Affinity Investment Advisors LLC Acquires New Position in Eli Lilly and Company (NYSE:LLY)

Affinity Investment Advisors LLC purchased a new stake in shares of Eli Lilly and Company (NYSE:LLY) in the third quarter, HoldingsChannel.com reports. The fund purchased 360 shares of the company’s stock, valued at approximately $319,000.

Other hedge funds have also recently bought and sold shares of the company. Twelve Points Wealth Management LLC lifted its position in shares of Eli Lilly and Company by 1.4% in the second quarter. Twelve Points Wealth Management LLC now owns 811 shares of the company’s stock worth $734,000 after purchasing an additional 11 shares in the last quarter. Verum Partners LLC raised its holdings in Eli Lilly and Company by 1.5% in the 2nd quarter. Verum Partners LLC now owns 731 shares of the company’s stock worth $662,000 after acquiring an additional 11 shares during the period. Beaird Harris Wealth Management LLC lifted its position in Eli Lilly and Company by 2.2% during the 2nd quarter. Beaird Harris Wealth Management LLC now owns 512 shares of the company’s stock worth $464,000 after acquiring an additional 11 shares during the last quarter. Summit Financial Strategies Inc. boosted its holdings in Eli Lilly and Company by 0.5% during the third quarter. Summit Financial Strategies Inc. now owns 2,105 shares of the company’s stock valued at $1,865,000 after acquiring an additional 11 shares during the period. Finally, Prio Wealth Limited Partnership increased its stake in shares of Eli Lilly and Company by 0.5% in the third quarter. Prio Wealth Limited Partnership now owns 2,411 shares of the company’s stock worth $2,136,000 after purchasing an additional 11 shares during the period. 82.53% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of analysts have issued reports on the company. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $885.00 target price on shares of Eli Lilly and Company in a report on Monday, September 16th. Wells Fargo & Company increased their price target on shares of Eli Lilly and Company from $875.00 to $1,000.00 and gave the company an “overweight” rating in a report on Friday, August 9th. Deutsche Bank Aktiengesellschaft restated a “buy” rating and set a $1,025.00 price target on shares of Eli Lilly and Company in a research note on Thursday, October 3rd. Sanford C. Bernstein began coverage on Eli Lilly and Company in a report on Thursday, October 17th. They set an “outperform” rating and a $1,100.00 price objective on the stock. Finally, Morgan Stanley reaffirmed an “overweight” rating and issued a $1,106.00 target price on shares of Eli Lilly and Company in a research report on Tuesday, August 27th. Three analysts have rated the stock with a hold rating and seventeen have given a buy rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $1,009.00.

Eli Lilly and Company Price Performance

Shares of LLY stock opened at $818.93 on Friday. Eli Lilly and Company has a 1 year low of $561.65 and a 1 year high of $972.53. The company has a current ratio of 1.11, a quick ratio of 0.87 and a debt-to-equity ratio of 1.74. The firm’s 50 day moving average is $911.04 and its 200-day moving average is $865.33. The firm has a market capitalization of $778.34 billion, a price-to-earnings ratio of 88.53, a PEG ratio of 3.07 and a beta of 0.42.

Eli Lilly and Company (NYSE:LLY) last released its earnings results on Wednesday, October 30th. The company reported $1.18 EPS for the quarter, missing the consensus estimate of $1.52 by ($0.34). The firm had revenue of $11.44 billion during the quarter, compared to analyst estimates of $12.09 billion. Eli Lilly and Company had a net margin of 20.48% and a return on equity of 73.73%. The firm’s quarterly revenue was up 20.4% on a year-over-year basis. During the same period last year, the business posted $0.10 earnings per share. Sell-side analysts forecast that Eli Lilly and Company will post 13.79 EPS for the current fiscal year.

Eli Lilly and Company Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, December 10th. Shareholders of record on Friday, November 15th will be given a dividend of $1.30 per share. This represents a $5.20 annualized dividend and a dividend yield of 0.63%. The ex-dividend date of this dividend is Friday, November 15th. Eli Lilly and Company’s payout ratio is 56.22%.

About Eli Lilly and Company

Eli Lilly and Company discovers, develops, and markets human pharmaceuticals worldwide. The company offers Basaglar, Humalog, Humalog Mix 75/25, Humalog U-100, Humalog U-200, Humalog Mix 50/50, insulin lispro, insulin lispro protamine, insulin lispro mix 75/25, Humulin, Humulin 70/30, Humulin N, Humulin R, and Humulin U-500 for diabetes; Jardiance, Mounjaro, and Trulicity for type 2 diabetes; and Zepbound for obesity.